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Success in today's sophisticated financial markets depends on a firm understanding of key financial concepts and mathematical techniques. Mastering Financial Calculations explains them in a clear, comprehensive way — so even if your mathematical background is limited, you'll thoroughly grasp what you need to know.
Mastering Financial Calculations starts by introducing the fundamentals of financial market arithmetic, including the core concepts of discounting, net present value, effective yields, and cash flow analysis. Next, walk step-by-step through the essential calculations and financial techniques behind money markets and futures, zero-coupon analysis, interest rate and currency swaps, bonds, foreign exchange, options, and more. Making use of many worked examples and practical exercises, the book explains challenging concepts such as forward pricing, duration analysis, swap valuation, and option pricing - all with exceptional clarity.
Whether you are a trader, fund manager, corporate treasurer, programmer, accountant, risk manager, or market student, you'll gain the ability to manipulate and apply these techniques with speed and confidence.
Chapter 1: Financial Arithmetic Basics
Interest Rate Instruments
Chapter 2: The Money Market
Chapter 3: Forward-Forwards and Forward Rate Agreements
Chapter 4: Interest Rate Structures
Chapter 5: Bond Market Calculations
Chapter 6: Repos, But/Sell-backs and Securities Lending
Chapter 7: Zero-Coupon Rates and Yield Curves
Chapter 8: Foreign Exchange
Swaps and Options
Chapter 9: Interest Rate and Currency Swaps
Chapter 10: Options
Gold and other commodities
Chapter 11: Gold and other commodities
Hints and Answers to Exercises
Chapter 12: Hints and Answers to Exercises